Dear Shareholders,
I am pleased to present to you the 22 Annual Report of your Company. Your Company is
poised for taking a leap forward and witnessing next level growth, continuing its
phenomenal journey towards excellence in API and Fine Chemical Products delivery to the
well-known organization. Throughout our journey, we have been exceeding expectations of
our buyer through consistency and quality of services. As we continue to grow, it is our
strategy to strengthen our organization presence in India and abroad, our aim to continue
expanding our presence in newer geographies as well to develop new products as part of our
growth strategies.
Performance for the last financial year was in line with our expectation, where we
could withstand the sharp increasing it with growth in terms of revenue and turnover.
Our strategy to de-risk the business through providing qualitative products proved to
be very useful.
Your Company is engaged in the development and manufacture of Active Pharma Ingredients
("APIs") and Fine Chemicals for the domestic market as well as for exports to
international markets. APIs, also known as "bulk drugs" or "bulk
actives" are the principal ingredient used in making finished dosages in the form of
capsules, tablets, liquid, or other forms of dosage, with the addition of other APIs or
inactive ingredients. We currently produce various range of Antacid Molecules which are
available in the market and are in great demand. Moreover, we expect the API business to
grow at a good pace. For our Fine Chemicals Segment we are also increasing the share of
the same in revenue and turnover.
While we have always known that each business stands uniquely apart in its thinking,
objectives and resources, we believe the timing is opportune to run them independently.
The year gone by is proof of our long-term approach to doing business whether from the
point of view of strategy, operations or sustainability. After considerable thought, we
believe that reorganizing our businesses as explained earlier is the most efficient and
sustainable way to move to the next level and stay true to Par Drugs' mission to enhance
the value of our customer's products by delivering best quality of raw materials and
consistently improve quality and production standards for the betterment of our customers
and build a strong relationship with all our customers, vendors and employees on the
values of ethical and transparent working system. I would like to acknowledge the hard
work, dedication of our talented employees for their passion and dedication with which
they continue to contribute to the culture of excellence. We thank you all for your
continued support in our growth. Further, I also thank you, our investors, for your
patience, for showing confidence and trust in management capabilities and guidance thus
far and look forward to your continued support.
Warm regards,
| Falgun V. Savani |
| Chariman & Managing Director |